NEW YORK (AdviceIQ) -- Men traditionally dominate the financial world, but women are actually better investors. Women are less impulsive and stick to a plan. Some male investors should take notice.Research sketches out how women differ from men when it comes to investing. According to a study by Barclays Wealth and Ledbury Research in 2011, women do indeed make more money in the stock market. We tend to take fewer risks, do more research before we invest and follow a buy-and-hold strategy. Over the past few months playing free Texas Hold'em at a local bar, I also noticed a parallel to investing: The tendencies that make women better investors make us better poker players, too. It's no wonder that Loni Harwood, a female with a major in finance, won a gold bracelet at this year's World Series of Poker. Women are more risk averse and less impulsive. "Women spend more time researching their investment choices, tend to take less risk than men do and hold onto their investments longer," says LouAnn Lofton, author of Warren Buffett Invests Like a Girl -- And Why You Should, Too. "Women are also more likely to seek out information that challenges their assumptions." In my completely unscientific observations, this translates to the poker tables too. I didn't notice this right away, though. George, who administers the card game I attend, pointed it out to me.
By Sophia Bera
I am a much tighter player. I fold a lot of hands and I play only cards I feel confident about. When I'm in a hand, I think of all the combinations that could beat me, and I usually assume one of the other players has a better hand than mine. I am more likely to lose a hand to a flush when I have a straight. Jake often loses to a straight when he has a pocket pair. Patience is a virtue. Jake has a "go big or go home" mentality when it comes to poker, and my goal is to make it to the final table. I know that if I play conservatively, most of the dudes knock each other out before the night is over. How does this relate to investing? Men are much more likely to chase hot stocks because they want the big win. They want to brag to their neighbors that they bought Apple ( AAPL) when it was at $20 a share. Patience is important in investing, as well. I notice that my female clients tend be more interested in long-term growth rather than chasing the next big win. Women are more guided by a plan and are more likely to stick with it. This patience usually pays off in time. gold prices, one of the hottest investments of the past few years. But Buffett is perennially No. 1 or No. 2 on the Forbes 400 list of America's richest people. You can't say the same for speculators in gold or anything else. Regardless of gender, you should invest for the long haul, not chase hot stocks and have a plan. Find a financial adviser who does comprehensive financial planning above and beyond investment allocation. Investing is only one piece, not the whole pie. Once you have an asset allocation that meets your time horizon and risk tolerance, make sure you or your advisor rebalance your portfolio each year. -- By Sophia Bera, CFP, a fee-only financial planner that caters investors in their 20s and 30s. She has been in the financial planning industry since 2007 and is the founder of Gen Y Planning in Minneapolis. She works with clients throughout the U.S. She has been quoted on websites and publications including Forbes, Business Insider, AOL, Yahoo, Money Magazine, The Fiscal Times, Fox Business and The Huffington Post. Money Under 30 recently named her one of the "Top Financial Advisers for Millennials." AdviceIQ is a network of financial advisors that writes insightful articles for the public about investing and wealth management. All articles are edited by AdviceIQ's editor in chief, Larry Light. AdviceIQ certifies that all its advisors have no regulatory infractions. To subscribe to AdviceIQ's RSS feed for personal finance articles written by financial advisors and AdviceIQ editors,
click here. Follow AdviceIQ on Twitter at @adviceiq.